Today’s Spring Statement was a low key affair regarding housing policy, but chancellor Rishi Sunk did announce a VAT tax cut to zero for energy efficiency upgrades.

Industry figures were quick to make their opinions known.

Keystone Property Finance managing director Elise Coole is pleased with the news but does have some reservations. She says: “While it is a step in the right direction, we believe the government could – and should – be doing much more to help people shoulder the immense financial burden associated with making their homes greener.

“The chancellor claims his plan will save the average person installing solar roof panels more than £1,000. But is that really much of an incentive when the average cost of installing solar panels is around £4,800?”

She continues: “If the government is serious about nudging people into action it needs to provide more direct financial support, such as expanding the Boiler Upgrade Scheme so more people can take advantage of it.”

And the shadow of the Green Homes Grant – discontinued just over a year ago – looms large. Coole says: “Ideally, this would be alongside the introduction of a replacement for the now defunct Green Homes Grant, which provided grants of up to £5,000 to those making energy saving improvements. If given the time and proper funding, this scheme could have flourished and become a real game changer.”

And North London estate agent and former Rics residential chairman Jeremy Leaf comments: “While [the VAT cut] will benefit a few homeowners with the means to install these in the first instance, there is no point in doing this unless there is sufficient consumer buy-in and confidence in the product, which isn’t there at the moment with regard to heat pumps.

“Consumers worry about the maintenance and servicing of these and there needs to be more confidence around their operation.”

Notable by its absence was any talk from Sunak about landlords. To some the topic may have seemed relevant because, just today, the Office for National Statistics published data showing that rents paid by private tenants rose at their fasted rate in five years.

Zoopla head of research Gráinne Gilmore says: “The rising cost of living, a main theme for the chancellor today, will have a knock-on impact in the rental market.

“Those most affected by higher energy and household bills may choose to stay put in their existing rental home, as the demand for rental property has led average rents for new lets to rise around 8% on the year.

“At the same time, the rising cost of mortgages could mean that more renters put off their first step onto the housing ladder, staying in the rental sector for longer.

She concludes: “All of this will increase demand for rental properties, while the supply of homes for rent is constrained, underlining the importance of policies to support the provision of rental homes at every level of affordability.”

Meanwhile, National Residential Landlords Association chief executive Ben Beadle opines: “It remains disappointing that the government has again failed to explain what will be required of the rental sector when it comes to energy improvements. The sector needs clarity as a matter of urgency.

“More broadly, as renters, along with all others, face a cost of living crisis, the chancellor should have reversed his decision to freeze housing benefit rates. Without this, those relying on the benefit will find it increasingly difficult to afford their rents.”

Leaf adds: ‘We are pleased that the chancellor didn’t further target landlords with more taxes and red tape. What is happening in the sales market is being mirrored in lettings, with a shortage of stock pushing up rents. It is important not to lose any more landlords, which would negatively impact supply and mean higher rents.”

And Hamilton Fraser chief executive Eddie Hooker had some comments regarding the opposition party’s response: “The most surprising statement… did not come from the chancellor rather from the Shadow Chancellor, Rachel Reeves, who again could not resist her serial attack on landlords and almost screaming that they do not pay enough tax whereas their tenants do.

He says: “When will the Labour party understand that landlords are part of the solution rather than the problem? All political parties need to embrace the Private Rented Sector and encourage its growth rather than forcing landlords from the market which will only add to the cost of living crisis and a lack of affordable homes.”

Taking a broader look at the event, Altura managing director Rob Gill believes, “there’s every chance Rishi Sunak may be back at the dispatch box with new economic measures before too long.

“The cost of living is set to rise significantly from next month while the ongoing war in Europe creates additional worry and uncertainty.

Gill concludes: “This Budget simply wasn’t radical enough given the extraordinary times we find ourselves in.”